The relevance and implication of troubled debt restructuring?

The relevance-well, if you don't have the self control to fix your debts on your own, then it's relevant in that it's an option to help those who need a little direction. Personally I would never advise it because of the additional costs. I believe most of us can handle these things pretty easily on our own if we do the work and stick to it. You need to be upfront and openly communicate with the debtors so that they are willing to work with you but as long as you do and you make regular agreed-upon payments, most places will be happy to oblige. Stay away from any place that advertises that they'll simplify or get rid of your debt. We all know deep down that there's only one true way to clear debt and that's to pay what you owe-it's not friggin' brain surgery.